Waiting for the Oil Captains
Pressure is growing for a decrease in petrol prices, in line with the drop in global oil prices. The government made many promises to reduce petrol prices next year. However, OPEC’s plan to cut production could once again pose a serious threat.
December 16, 2008
THESE days, the eyes of the world are very much aimed towards Oran, in Algeria. This city on the Mediterranean coast will host the 151st session of the Organization of Oil-Exporting Countries, or OPEC, this coming December 17. Many people have been waiting for this meeting, not only market players but also governments throughout the world.
This Oran meeting will certainly end up determining next year’s oil prices. This is because the OPEC oil
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